Twilio price target raised to $97 from $88 at Canaccord

Canaccord analyst T. Michael Walkley raised the firm’s price target on Twilio to $97 from $88 and keeps a Buy rating on the shares. The analyst said Twilio is the leading CPaaS company and an integral centerpiece of customer digital transformation plans with a growing software business to drive margin expansion longer term. With the improving profitability, we believe management has made the tough decisions to restructure into two business units and reduce operating costs.